Fannie Mae-No Politics (FNMA)

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HARRY Reid: "Favorable (for shareholders) outcome before Obama leaves office" according to GEORGENIPS visit with Mr. Reid and other senators:

georgenips
Here are my notes from my meetings with extra unnecessary information. There was a lot going on in these meetings and I’m sure I missed some important points.



Senator Dean Heller and Scott Riplinger (both in meeting)

Senator Heller mentioned that shareholders got a bad deal. Heller said he did not like the conservatorship. Heller called the conservatorship a receivership at one point and I quickly corrected that. He did not like the prospects of getting any new legislation passed. Heller said he would like to see a 100% private Fannie and Freddie but had no suggestions on how to get there. I mentioned working through Mel Watt to end the conservatorship and that he has the power to end it, get the taxpayers off the hook, and recapitalize. Heller’s Response was Mel Wat t is an independent regulator and I mentioned that he is not that independent since he has been taking direction from Treasury and President Obama. I asked about a Sallie Mae type wind down and he suggested that the GSE's would not work without some kind of a Gov. guarantee. I talked with Heller for the full 30 minutes and didn’t stop until he stood up and said his good byes.



Senator Harry Reid (I met with Trey Reffett)

I spoke with Trey Reffett last April so he is up to speed on the issue and he remembered me from last time (good notes). This was a one on one meeting plus the assistant who was great at jumping in when needed. I met with mostly men so it was beneficial having an attractive female assistant with me to spark their interest.

Trey mentioned that Senator Reid has been quite on the issue as we know. Fannie and Freddie are important to the recovering Las Vegas, Nevada housing market. The main thing I got out of this meeting was that shareholders, he believed, would have a favorable outcome before Obama leaves office. I stressed that I have been waiting since 2008 and he said, “Since I’m a long term investor what is another 2 years?” He said he had no inside information for us. He believed that the Democrats had to be careful making changes to Fannie and Freddie’s current state and anything too drastic would cause the Republicans to retaliate.

I mentioned that one way to release Fannie and Freddie from conservatorship would be to have Watt release, sell their shares, recapitalize, make a 200 billion dollar profit, and have the lawsuits dropped. That idea sparked his interest. He wanted to know what other officials thought about that idea and he wanted Investors Unite to follow up with him. He mentioned something about Dodd Frank – making changes to it?



Senator Amy Klobuchar from Minnesota (I met with Lara Muldoon)

I went to this meeting with two other FnF investors and only one was from Minnesota. The lady that was from Minnesota did a great job getting the main points across. Lara Muldoon let me and the other guy say our points but was not too concerned with us since we were not in the district. Lara took lots of notes to pass on to Amy Klobuchar. The lady from Minnesota really won over Lara. They even hugged in front of the souvenir shop, we were being showed, when they parted ways. I think Lara made a new best friend that day. After the souvenir shop, the assistant and I got a personal escort by Lara through the underground entrance to the Capitol. Security clearance was needed and she even road the tram over with us. It was an interesting meeting.



Congresswoman Betty McCollum Fourth District, Minnesota (I met with Paula Sunde)

I was in this meeting with an assistant and Paula Sunde. The lady from Minnesota had an early flight so I was representing her in this meeting. Paula was okay with this arrangement and was happy to listen. Paula was not knowledgeable on the subject and told me not to use acronyms. She asked what GSE stood for. I took the full time to talk with her and make sure she heard everything before I left. At one point, she told me message received because I was giving her the whole long version and going over the main points several times to make sure she got it. She was taking lots of notes and asking me to repeat certain parts so she could pass on the information.



I am following up with everyone soon.